The Central Bank of the UAE (CBUAE) has cancelled the licence of insurance firm IRIS Health Services for not complying with the country's laws.
It's in "accordance with the applicable instructions and procedures for licencing health insurance third-party administrators," the authority added.
The CBUAE works to ensure that all insurance companies comply with UAE laws in a bid to safeguard the transparency and integrity of the insurance industry and the UAE financial system.
UAE contains tanker oil spill as coastal cleanup continues
The UAE has confirmed that the oil spill from the tanker GEM No. 2 has been contained, as authorities continue environmental remediation efforts along affected coastlines.
UAE takes action over alleged national service violations, abuse of authority
The UAE's Military Attorney-General has ordered the referral of a number of defendants to the Military Criminal Court over allegations of abusing official authority to unlawfully obtain exemptions from national and reserve service.
UAE regulator fines bank AED 200 million over compliance failures
The Central Bank of the UAE (CBUAE) has imposed a financial penalty of AED 200 million on a branch of a foreign bank operating in the country for repeated failures in anti-money laundering controls, governance and compliance.
Dubai Police arrest 6 people in AED 2.6 million virtual assets scheme
Dubai Police have arrested a six-member ring that deceived a victim into paying AED 2.6 million through a fraudulent digital currency trading deal via an unlicensed exchange.
UAE court jails eight for life in arms trafficking, money laundering case
The Abu Dhabi Federal Court of Appeal has convicted several individuals involved in an illicit weapons trafficking and money laundering network linked to the supply of arms, ammunition and military equipment to the Sudanese Army.
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